Current News

Algodon Group, Inc. (OTCQB: VINO), a company with a collection of luxury assets, real estate holdings and premium wines in Argentina, today announced it has been granted a Notice of Allowance from the United States Patent and Trademark Office for the trademark filing of Gaucho – Buenos Aires™, the new luxury, fashion, and leather accessories direct to consumer brand (GauchoBuenosAires.com) based in Argentina. The U.S. trademark filing covers goods and services such as apparel, leather accessories and other products, jewelry, cosmetic fragrances and home goods.

Gaucho – Buenos Aires™ is scheduled to premiere its Winter fashion show at the prestigious Designers BA (Buenos Aires’ own “fashion week”) on March 18, 2019. The event and exclusive runway show will feature social media influencers and television stars from the U.S. and Argentina.

NEW YORK, NY -- Dec. 21, 2018 -- Algodon Group, Inc. (OTCQB: VINO), a collection of luxury assets, real estate holdings and premium wines in Argentina, shared news today of having been featured in Forbes Magazine Argentina. The article, Gaucho: Exporting the Argentine Spirit, provides a current overview of Gaucho – Buenos Aires, along with a Q & A with CEO and Founder of Algodon Group, Scott Mathis.

At the hand of Algodon Group, Gaucho - Buenos Aires has already become official. With a cocktail attended by celebrities and friends of the brand such as Emmanuel Horvilleur, Violet Urtizberea, Toto Ferro, Emilia Attias, Candela Vetrano, among other great characters of the environment, presented his collection to the rhythm of good music and delicious drinks.

By combining the gaucho origins and the eclectic and contemporary culture of Buenos Aires, Gaucho - Buenos Aires creates collections of prèt - â - porter clothing made from local noble materials and handicraft techniques that allow the development of original and representative garments of the contemporary expression of luxury.

The International Monetary Fund said it has decided to reopen an office in Argentina, 6 years after leaving. The decision came days after Buenos Aires reached a deal with the IMF on the money supply, interest rates and an exchange rate framework.

The emir of Qatar, Hamad bin Khalifa Al Thani visited Buenos Aires with a delegation of 140 officials and businessmen willing to pay an important amount of funds to invest in the country and give a hand to the Government in these moments of economic uncertainty.

Argentina has agreed a us$57.1 B deal with the International Monetary Fund (IMF) designed to stabilise its economy. The new IMF agreement boosts the total funding available from the fund by us$7.1 B and frontloads financing, increasing available resources by us$19 B through the end of 2019. The funding provided through the agreement would be used by Argentina for budget support. Finance Minister Nicolás Dujovne is "confident" and says that "this time the great countries of the world have decided to support us".

The exchange rate tension that accelerated in the last days of August had generated distrust in many savers, fed in chains of WhatsApp and some publications in networks that stoked a supposed return of the corralito and called to retire the deposits in dollars of the banking system.

Buenos Aires (AFP) - Argentines may be feeling the pinch of their country's economic woes, but for tourists, the troubled peso is proving a holiday boon.

Brazilian Pedro Perreira de Azevedo has been rubbing his hands in delight after his family holiday, with his wife and three children, turned out cheaper than expected.

"We'd planned a budget of 7,000 reais (around $1,700) but in the end we've spent between 3,000-3,500," said Perreira de Azevedo, while his family took pictures outside the Argentine presidential palace.

When they arrived from Belo Horizonte in the east of Brazil on September 5, the peso had just lost 20 percent of its value in the wake of President Mauricio Macri announcing Argentina would ask the International Monetary Fund to advance a $35 billion loan to help prop up an economy in crisis.

The devaluation that the Argentine peso has had so far this year reconfigured the future of the tourism industry and the higher income of foreign tourists accelerates their plans. In this scenario, Andes Airlines, Avianca, Baires Fly, Flybondi, Grupo Lasa, Jetsmart and Latam welcome the increase in international tourism, and have requested 792 new domestic routes (32%) and international routes (68%), a true record compared to the 156 required 2 years ago and 503 last year.

Back in August of 2018, it was announced that Norwegian would be expanding into the Argentinian domestic market, launching their own subsidiary airline and planning to smash the legacy airlines located in the country to bring ultra-cheap travel to locals.

BUENOS AIRES/WASHINGTON (Reuters) - Argentina’s economy minister sounded upbeat on Wednesday about clinching a new deal with the International Monetary Fund after two days of talks in Washington, and said had sought U.S. support for securing approval from the IMF’s board.

US President Donald Trump has offered his "strong support" to Argentina, branding the Latin American country's crisis a "trying time," following a phone conversation with President Mauricio Maci this morning.

President Macri had a 15-minute conversation with his US counterpart this morning as the Argentine leader’s economic team heads to Washington for key talks with International Monetary Fund (IMF) officials.

The government knew that it should take measures that give signals to regain confidence in its voters who asked for a change and convince the nervous investors that they can pay their debts. Argentine President Mauricio Macri plans to eliminate several ministries of the federal government as his administration seeks to reduce the budget deficit to quell a run on the peso as a sign of reducing the primary deficit. A gesture of necessary austerity. Because the government that declared austerity must now accompany its statements with facts and with a communication that proves it. The question of many: what will be the new structure of the 95 current secretariats, 127 undersecretaries, 21 general coordination units in the new ministries, including the Chief of Cabinet of Ministers.

Mauricio Macri gave a speech where he expressed that Vaca Muerta is a positive and energetic revolution for Argentina. The president remarked that Vaca Muerta "continues to develop" despite the economic "storms" the country faces”. “We continue to face our own problems and the world and this continues to develop. And we will not stop until we export 30 billion dollars in gas and oil”, he said.

According to the last report of Markets and Economy of the consultant Delphos, the reason is the combination of a better harvest that will reach 118 million tons (mill / tn), against 99 of 2018, and very close to 123 of 2016 / 17. These higher exports and lower import requirements for commodities for the agricultural sector, would lead to an expansion of the supply of foreign currency compared to the previous crop of around 6,000 million dollars.

Argentina's peso hit an all-time low on Monday as Latin American currencies sank amid a broader sell-off in emerging markets that have been rattled by the Turkish lira's plunge.

Turkey's lira pulled back from a record low of 7.24 to the dollar on Monday after the country's central bank pledged to provide liquidity. Concerns about Turkey snowballed into a market panic last week.

The biggest loser was Argentina's peso currency, which fell 2.4% to close at a record low 29.97 per dollar, pressured by a corruption scandal that could damage the country's construction sector.

“With the evolution of the Turkey situation, the start of the week for Argentine assets has been laid out, with corruption scandals involving businessmen and political officials adding on” to the lira's slide, consultancy SBS wrote in a note to clients.

However the Argentine central bank chairman Luis Caputo announced a battery of measures to begin operating on Tuesday to contain the run on the US dollar, including the sale of US$ 500 million.

Algodon Wines & Luxury Development Group Announces Progress on Transition to a Diversified Luxury Goods Company

Company to Change Name to Algodon Group to Reflect Expanded Growth Strategy

NEW YORK, Aug. 07, 2018 -- Algodon Wines & Luxury Development Group, Inc. (OTCQB:VINO), a collection of luxury assets, real estate holdings and premium wines based in Argentina, today announced that it has made further progress with its updated growth strategy of transitioning into a diversified luxury goods company, as it expands beyond its existing businesses of premium wines and luxury real estate development.